Bank of Montreal (NYSE:BMO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 51.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,200 shares of the bank’s stock after purchasing an additional 8,528 shares during the quarter. Principal Financial Group Inc.’s holdings in Bank of Montreal were worth $2,506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BMO. Principal Securities Inc. purchased a new stake in Bank of Montreal during the 4th quarter worth approximately $33,000. Cullen Frost Bankers Inc. grew its holdings in Bank of Montreal by 3,375.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock valued at $41,000 after buying an additional 405 shares in the last quarter. Crewe Advisors LLC increased its holdings in shares of Bank of Montreal by 63.5% during the 3rd quarter. Crewe Advisors LLC now owns 515 shares of the bank’s stock worth $43,000 after buying an additional 200 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Bank of Montreal in the 4th quarter valued at $44,000. Finally, IAG Wealth Partners LLC grew its holdings in shares of Bank of Montreal by 117.5% during the 4th quarter. IAG Wealth Partners LLC now owns 496 shares of the bank’s stock worth $49,000 after purchasing an additional 268 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analyst Upgrades and Downgrades

BMO has been the topic of a number of recent analyst reports. Desjardins cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group started coverage on Bank of Montreal in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Finally, Barclays initiated coverage on shares of Bank of Montreal in a research note on Wednesday, March 20th. They issued an “overweight” rating for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Montreal currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.00.

Get Our Latest Analysis on BMO

Bank of Montreal Trading Up 1.7 %

Shares of Bank of Montreal stock opened at $89.11 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $93.73 and a 200-day simple moving average of $92.72. The stock has a market cap of $64.98 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.26 and a beta of 1.13. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be paid a $1.125 dividend. This represents a $4.50 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Tuesday, July 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s dividend payout ratio is currently 74.25%.

About Bank of Montreal

(Free Report)

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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